1. India-Global Market Summary 22-3-2013
• Market traded volatile and once again slipped into the red soon after moving into
positive zone from negative zone. The market breadth was weak. The BSE Small-
Cap index was off almost 1%. Among the 30-share Sensex pack, 18 stocks declined
while rest of them gained. Nifty fell 0.13% to 5651.35 and Sensex fell 0.3% to
18735.60
• Lok Sabha was adjourned for the day today, 22 March 2013 after it failed to transact
any business for the third consecutive day following uproar over the Sri Lankan
Tamils issue. The first leg of the Budget Session of the Parliament concluded
today, 22 March 2013. After a one month recess, the Parliament reconvenes on 22
April 2013. The Budget Session of the Parliament ends on 10 May 2013.
• The government has lined up a number of key bills for consideration and passing
during the ongoing Budget session of the parliament, which include The Forward
Contracts (Regulation) Amendment Bill, 2010, The Pension Fund Regulator and
Development Authority Bill, 2011, The Land Acquisition, Rehabilitation and
Resettlement Bill, 2011, The National Food Security Bill, 2011 and The Insurance
Laws (Amendment) Bill, 2008.
• The Election Commission of India on Wednesday, 20 March 2013, said that
assembly elections will be held in Karnataka on 5 May 2013 and the counting of
votes and results of the election will be declared on 8 May 2013.

2. • Reliance Industries (RIL) edged lower in volatile trade. ITC edged higher in choppy trade.
Realty stocks extended recent losses. IT stocks edged lower as Oracle Corp's third quarter
revenue fell short of analysts' expectations.
• SKS Microfinance surged 4.52% after the company said it has completed two securitization
transactions aggregating Rs 115 crore
• Hero MotoCorp rose 2.79% on media report that the company plans to spend Rs 1100 crore
towards capital expenditure in fiscal year 2014.
• ONGC turns ex-dividend today, 22 March 2013, for interim dividend of Rs 4 per share for the
year ending 31 March 2013.
• The GoI has decided to sell up to 24.03 crore equity shares, constituting 5.82% of the total
paid up capital of Steel Authority of India (Sail) via OFS at a floor price of Rs 63
• Godrej Consumer Products said its Indonesia subsidiary has successfully completed the
divestment of its Non-Core Food Business on 21 March 2013.
• Oracle Financial Services Software fell 3.67% after shares of the company's US-based parent
tumbled on Thursday, 21 March 2013, as its Q3 revenue fell short of market expectations
• 3M India rose after strong investor response to the divestment of the promoter's 1% stake in
the company through the stock exchanges mechanism on Thursday, 21 March 2013
• Rupee today rose marginally by two paise to 54.26 against the dollar in early trade at the
Interbank Foreign Exchange on increased selling of the US currency by exporters..

3. Global news
• European stocks edged lower on Friday as investors monitored efforts in Cyprus to avoid a
financial breakdown with lawmakers scrambling to come up with a new bailout proposal to
present to its international lenders. Asian stocks edged lower on Friday amid concerns
over the financial crisis in Cyprus. Trading in US index futures indicated a flat opening of
US stocks on Friday. US stocks fell on Thursday suffering their biggest drop in nearly a
month, pressured by weak euro-zone economic data, escalating worries over the banking
crisis in Cyprus as well as disappointment with Oracle Corp's quarterly earnings
• The group of euro-zone finance ministers, also referred to as the Eurogroup, said in a
statement after a conference call late Thursday that it "stands ready to discuss with the
Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present
as rapidly as possible."
• The European Central Bank on Thursday said it would suspend aid for Cyprus banks if the
country can't reach a bailout deal with international lenders by Monday, 25 March 2013.
• Meanwhile, ratings firm Standard & Poor's dealt a further blow to reeling Cyprus
Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking
sector meltdown. S&P lowered Cyprus's rating to 'CCC' from 'CCC+' as the country raced
under a tight deadline to formulate an acceptable rescue plan with the European Union. The
lowered credit rating would make it more costly for Cyprus to borrow, further exacerbating
the stricken nation's woes.
• Data from Markit on Thursday showed activity in Germany's manufacturing sector
unexpectedly contracted in March. The preliminary manufacturing purchasing managers'
index, or PMI, dropped to a three-month low at 48.9, sending the sector back into
contraction territory.

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